Hide prices mostly traded sideways as today the Chinese Lunar New Year celebrations wrap up in most Asian countries. Most buyers are expected to return tomorrow and Friday, but activity is likely to pick back up by next week. Korea buyers have shown moderate interest throughout the holiday, so it is possible to see some trades in the coming days. The hide selections that changed today were Butt Branded Steers, dropping to return to Friday’s levels, and Branded Cows, dropped $0.50 on the lowside of the Northern and Southwestern spreads.
Federal Reserve Economic Data (FRED) reported rising December home starts of 1.67 million units from the previous month, representing a 30 percent increase from the prior four-year December average of 1.29 million units. Partially driven by low mortgage interest rates, tracking at 2.97 percent for 30-year fixed, high demand for new homes continues. Along with high demand for new homes comes the high demand for new furniture. Furniture sales…
11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...